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April 9, 2024
Question

Estimated Taxes

  • April 9, 2024
  • 1 reply
  • 0 views

My wife is retiring and shutting down her business halfway through 2024, and I'm at loss how to calculate her estimated taxes. Using 2023 tax info would result in a large overpayment. Changing the 2024 estimated income in the TurboTax worksheet to our best guess results in a ridiculously low number which would almost certainly be an underpayment. They should be about half the estimates we paid in 2023...

 

    1 reply

    KrisD15
    April 9, 2024

    You also have the option of making only the first two of the payments, which might be the solution for your situation. 

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